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Topic: please delete - page 2. (Read 555 times)

legendary
Activity: 3472
Merit: 10611
December 02, 2019, 02:53:24 AM
#3
1. Every node generates it's own blockchain at zero difficulty. It's okay if nodes have different blockchains. What matters is that they all record the same transaction history. Nobody publishes their blockchain anyway.

the whole idea of the blockchain is that everyone is in perfect sync at all times and has the same exact ledger. otherwise if for example i have a transaction output and spend it without telling everyone else then i can spend it more than once and only tell some. and the system will at some point fall apart.

Mining only forces everyone to use the same blockchain which isn't strictly necessary in order for every node to have the same transaction history.
no, actually mining is the process of updating the ledger with new changes in an irreversible way!

it is like wanting to spend money from your bank account but not have the bank update your balance! it can't work. each (bank) transaction has to be recorded in their database to update the "ledger" so that if you tried spending more than your balance, the system prevents you.

in bitcoin we don't have balances, we only have transactions that are either spent or unspent. the ledger has to be updated each time through an irreversible costly process called mining so that when a transaction output was spent the subsequent attempts at spending the same thing fails.
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
December 01, 2019, 02:33:00 AM
#2
Imagine a brand new network from scratch. It operates sort of like a chat room, where every node has a list of all other nodes by pseudonym.
It's not exactly feasible for nodes to be able to obtain the IPs of every node, especially with dynamic IPs which means that the nodes would have different IPs every now and then. It would be impossible for them to tell which one is active if they do not connect to each node every now and then. And that is infeasible as well.
1. Every node generates it's own blockchain at zero difficulty. It's okay if nodes have different blockchains. What matters is that they all record the same transaction history. Nobody publishes their blockchain anyway.
It's not possible for every node to keep the same transaction history without some sort of consensus. Having each node operate independently of each other means that no one can be sure if they have the full transaction history.
2. Every once in a while every node gets an opportunity to publish a coinbase transaction for itself- a participation bonus!
This can be regulated by a time limit or a turn-based system or something along those lines.
Which means, the one who has the most nodes earns the most. Who is going to determine who gets the "participation bonus"? No one can keep track of how long which node has been online for without a constant connection and a central authority. This defeats the privacy and decentralised aspects of Bitcoin.
jr. member
Activity: 49
Merit: 38
December 01, 2019, 01:57:30 AM
#1
nothing to see
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